Sec. 418.1. Records required of persons who store motor fuel

Tax Law, §§ 283-b, 286

(a) Every person who stores motor fuel in New York State including every terminal operator as defined in section 410.2(j) of this Title must, in addition to any other recordkeeping requirements imposed by this Title, keep a complete and accurate record of:

(1) the identity of the person for whom such motor fuel is stored;

(2) the location, quantity and type of motor fuel stored;

(3) the identity of the person transporting such motor fuel to and from the storage facility and the method of delivery or withdrawal;

(4) the quantity and type of motor fuel so transported;

(5) the identity of the person to whom such motor fuel is released from storage;

(6) the quantity and type of motor fuel so released; and

(7) any other information as the Department of Taxation and Finance may require.

(b) Records required pursuant to this section must be in such form and contain such other information as the Department of Taxation and Finance prescribes. Such records must be preserved for a period of three years and upon oral or written demand by the Commissioner of Taxation and Finance or any of his duly authorized agents such records must be made available for inspection. The Commissioner of Taxation and Finance and his duly authorized agents may in verification of the amount of any tax due under article 12-A of the Tax Law examine the equipment pertaining to the storage of motor fuel, as well as the stock of motor fuel in the possession or control of any person required to keep records. Each such person must give to the commissioner or his duly authorized representatives the means, facilities and opportunities for such inspection and examination.

(c) See Part 2402 of this Title for taxpayer record retention formats.